Elretur buys Eurovironment from Norsk Gjenvinning
(Oslo 15.12.2011) Elretur AS has concluded an agreement with Norsk Gjenvinning Metall AS and W3E Europe AS concerning the transfer of all the shares in Eurovironment AS. The transfer to Elretur will have accounting effect from 1 January 2012. The transaction is being implemented as quickly as possible and on the assumption it will be accepted by the Norwegian Competition Authority.
“This is an important acquisition for Elretur's customers and producers and importers of EEE,” says Stig Ervik, managing director of Elretur AS. From 1 January, Elretur will manage the largest volume of waste of all the EEE take-back companies operating in Norway.
"Volume is vital in the industry we work in, both financially and, not least, environmentally," says Ervik.
"More customers and even greater waste volumes will make us more competitive in the producer market. Elretur already has very good terms for its customers - and we are betting on providing an even better service because of this acquisition," says the managing director of Elretur.
Ervik believes the acquisition of Eurovironment will provide Elretur with a unique opportunity to develop a broader spectrum of services for new and existing customers.
"For example, we will now be in a position to address the entire value chain with regard to waste management, including environmental reports and CO2 accounts for our customers, which is becoming increasingly relevant for environmentally aware companies that are focused on their own brands," says Ervik.
Elretur currently uses one of the best treatment plants for WEEE in the whole of Northern Europe, and last year achieved a recovery rate of 91.5 per cent, a result that is the best in the world. Ever since Elretur started operations, the take-back company has focused on ensuring the operators that work for Elretur, environmentally treating and recovering WEEE, invest heavily in technology research and development. Every year Elretur presents an environmental award that is intended to encourage precisely this. Institutes such as Sintef, the Geological Survey of Norway, and Ostfold Research are previous winners of Elretur's environmental award.
Ervik believes the acquisition of Eurovironment will increase competition between the take-back companies in all product groups (consumer/business equipment).
“There are some actors in our market today who are operating as if the 1998 branch agreement still applied, however it is the Waste Regulations' chapter on WEEE that now regulates the producers' responsibilities and take-back companies' activities,” stresses Ervik. He continues: "This acquisition will naturally lead to greater competition in the entire WEEE market, including the business equipment market, and this will benefit the customers!"
……………………………………..
For more information about this matter or Elretur, please contact managing director Stig Ervik on (+47) 907 70 700 or PR director Guro K. Husby on (+47) 995 00 518.